Well, it seems more forgiving than IL2 to me, at least the engine doesn't completely turn off. Plus, the video shows it doesn't really take long to cause trouble and is consistent with a veteran's accounts in BBC's "battle of britain: the true story".
The way he describes it is just the way it appears on the BoB film intro posted above, which clearly indicates fuel starvation followed by an over-rich condition:
stage 1: lack of positive G forces the carb floater to the top of the fuel sump along with any fuel in it(is sump the correct word? let's say "feeding reservoir between fuel tank and engine" if it's not), causing fuel starvation
stage 2: as soon as positive G is restored, fuel flows around the floater and down into the engine at increased rate (since the floater, well, floats in the fuel and thus descends slower to its original position
), resulting in too much fuel drowning the engine out, signified by the tell-tale signs of black smoke that accompanies an incomplete burn
I actually like it quite a lot the way it's done in CoD. Between the individual aircraft quirks, the extra details and restrictions and the all-around higher level of challenge in all flyables, i feel like flying for the allied team much more often than i used to in IL2.